Researchers at the Insurance Information Institute (Triple-I) have determined that home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 (41% less) and 2023 (80% less).
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Vertafore: The State of Independent Agencies in 2024
This year, Vertafore heard from nearly 2,000 individuals working at independent agencies. This diverse pool of insurance professionals shared insights into their day-to-day experience working in the industry, the impacts of the unprecedented hard market, and how they leverage technology to serve their clients.
Uber, Lyft Agree to Boost Wages, Shell Out $175M to Settle MA Lawsuit
Uber and Lyft reached a $175 million settlement with Massachusetts Attorney General Andrea Campbell’s office to resolve a multi-year lawsuit that targeted the classification status of drivers working for the two companies, according to a statement released Thursday afternoon.
Supreme Court Curbs SEC’s In-House Judges in Fraud Cases
The US Supreme Court curbed the Securities and Exchange Commission’s ability to press complaints before in-house judges, saying defendants have a constitutional right to make their case to a federal jury when the agency is seeking financial penalties.
Jury Orders NFL to Pay Nearly $4.8B in ‘Sunday Ticket’ Case for Violating Antitrust Laws
A jury in U.S. District Court ordered the NFL to pay nearly $4.8 billion in damages Thursday after ruling that the league violated antitrust laws in distributing out-of-market Sunday afternoon games on a premium subscription service.
Big “I” 2024 Market Share Report: Independent Agency Channel Places 62.2% of All P&C Insurance
Based on 2023 data, this year’s report found that the independent agency channel places 62.2% of all p&c insurance written in the U.S., demonstrating the channel’s resilience amid the challenges posed by the hard market.
Few Have Flood Insurance to Help Recover from Devastating Midwest Storms
As the Midwest begins to recover, many won’t have flood insurance, which must be purchased separately from homeowners insurance.
AIG to Sell its Global Personal Travel Insurance and Assistance Business for $600M to Zurich
American International Group, Inc. announced that it has entered into a definitive agreement to sell its global individual personal travel insurance and assistance business to Zurich Insurance Group for $600 million in cash plus additional earn-out consideration.
CDK Global Car Dealership Cyberattack Sparks Second Personal Data Lawsuit
CDK Global said its dealership management systems won’t be back online before the end of June, as the company and the dealers it works with continue to struggle with the aftershocks of back-to-back cyberattacks.
State Farm: Severity High on Hundreds of Claims from New Mexico Wildfires
Most of the hundreds of claims State Farm has incurred from catastrophic wildfires in New Mexico are high severity, according to a company spokesperson.